Streetbeat News

Legal

LYG

SAN

Iranian entities, including the Islamic Revolutionary Guard Corps, reportedly used Lloyds Banking Group PLC (NYSE:LYG) and Banco Santander SA (NYSE:SAN) to evade U.S. sanctions. The banks are under investigation by U.S. authorities for their potential involvement in these transactions. The situation escalates tensions between the U.S. and Iran, amid concerns over Iran's support to Houthi rebels in Yemen.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 7:43 am

BA

SPR

Boeing Co (NYSE:BA) has discovered new quality defects in its 737 MAX airplanes, specifically two mis-drilled holes on the fuselages of around 50 undelivered planes, reported by supplier Spirit AeroSystems (NYSE:SPR). This issue may delay near-term deliveries of the 737 MAX, although the safety of the planes is reportedly not compromised. Boeing plans to conduct additional work on the affected aircraft. This comes amid ongoing challenges for Boeing's 737 MAX planes, including intense scrutiny following a series of safety incidents and a recent production freeze ordered by the FAA.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 6:44 am

ICLN

TSLA

Short-seller Jim Chanos criticized Tesla CEO Elon Musk's proposal for a carbon tax as a measure against climate change, labeling Musk as 'Subsidy King' and 'new darling of the Right'. Musk advocates for a carbon tax to combat climate change, citing a $5.3 trillion annual carbon subsidy per the IMF. Chanos, known for his bets against Tesla and Enron, recently closed his hedge fund. The debate highlights differing views on addressing climate change and the role of electric vehicles and renewable energy.

Portfolio Pulse from Shanthi Rexaline

February 05, 2024 | 6:24 am

BTCUSD

El Salvador's President Nayib Bukele has declared victory in the country's presidential election, aiming for a second term despite constitutional concerns. His leadership, including the controversial adoption of Bitcoin as legal tender, has seen both praise and criticism. Bukele's administration has been accused of human rights violations, but also credited with reducing crime and making profitable Bitcoin investments.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 4:04 am

FB

SNAP

Mark Zuckerberg, CEO of Meta Platforms, was seen with a potential mullet hairstyle during a Senate Judiciary Committee hearing on child exploitation on social media. Despite the serious nature of the hearing, Zuckerberg's hair became a topic of discussion. Meta Platforms Inc. (NASDAQ:FB) shares reached an all-time high after reporting better-than-expected Q4 financial results. Snap Inc. (NYSE:SNAP) CEO Evan Spiegel also attended the hearing.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 1:20 am

SPY

U.S. Senator Sinema proposed a bill that allows or requires the Department of Homeland Security (DHS) to shut down the U.S. border based on daily crossing attempts. The bill activates at 4,000 attempts/day (allows shutdown) and mandates closure at 5,000 attempts/day until control is regained.

Portfolio Pulse from Charles Gross

February 05, 2024 | 12:27 am

TSLA

Elon Musk is reported to have fostered a culture of drug use among senior leaders at Tesla and SpaceX, with directors and board members allegedly participating in drug use. Larry Ellison, a former Tesla director, advised Musk to seek rehabilitation. The allegations raise concerns for SpaceX's government contracts and Tesla's leadership.

Portfolio Pulse from Bibhu Pattnaik

February 04, 2024 | 5:52 pm

BLK

JPM

Financial experts including Bill Gross, BlackRock, and Jamie Dimon provided insights on the U.S. economy, discussing a looming debt crisis, bullish views on U.S. stocks, and potential unemployment rate increases. Gross compared the U.S.'s $34 trillion debt to climate change impacts, predicting inflation due to annual deficits. BlackRock upgraded U.S. stocks to 'overweight', anticipating an economic soft landing and interest rate cuts. Mizuho's Dominic Konstam projected unemployment could double by year-end. Peter Schiff criticized the Federal Reserve's inflation policy, and Dimon warned of a global market 'rebellion' due to U.S. debt levels.

Portfolio Pulse from Benzinga Neuro

February 04, 2024 | 11:08 am

ABT

Abbott Laboratories (NYSE:ABT) faces a lawsuit from a New York City grandmother, Joanne Noriega, over the efficacy of its PediaSure Grow & Gain nutrition drinks. The lawsuit alleges that Abbott falsely claimed the drinks were "clinically proven" to boost children's height, which led Noriega to purchase them for her grandson with no observed height increase but excessive weight gain instead. U.S. District Judge Paul Engelmayer denied Abbott's attempt to dismiss the lawsuit, citing evidence-backed reasons to question Abbott's marketing claims. Abbott insists the case is without merit, stating PediaSure is a scientifically designed nutrition solution.

Portfolio Pulse from Nabaparna Bhattacharya

February 03, 2024 | 8:03 pm

AMD

AMZN

META

TSLA

Benzinga's analysis highlights a strong week for the S&P 500, Nasdaq, and Dow, driven by tech earnings and job growth. Meta Platforms and AMD received bullish outlooks due to Q4 earnings and AI potential, respectively. Dogecoin is predicted to rise. Tesla faces uncertainty after a court ruling against Musk's pay plan, while Amazon's failed iRobot deal and tech market concentration concerns suggest caution.

Portfolio Pulse from Michael Cohen

February 03, 2024 | 1:42 pm